American Business History
The Economic Recovery Tax Act of 1981 was a significant piece of legislation in the United States aimed at stimulating economic growth through tax cuts. It was a key part of President Ronald Reagan's economic strategy known as 'Reaganomics,' which focused on reducing government intervention, lowering taxes, and encouraging private investment to spur economic recovery. This act primarily targeted individual income taxes, corporate taxes, and capital gains, aiming to boost disposable income and incentivize businesses.
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